Inland Appoints CEO Zalatoris to Board

Inland Real Estate Corp. has a new board member. Mark Zalatoris, president & CEO of the retail REIT, has been appointed to the board as a director of the company.

Zalatoris has been part of the Inland Real Estate Group of Cos. since 1985, when he came aboard as an executive with Inland Real Estate Investment Corp. He landed at his current Inland home in 2000 as CFO and executive vice president. Four years in, he became chief operating officer, a position he held until 2008, when he ascended to his present role as president and CEO.

Zalatoris joins seven other members on Inland’s board of directors: Thomas D’Arcy, chairman; Daniel Goodwin; Joel Herter; Heidi Lawton; Thomas McAuley; Thomas McWilliams; and Joel Simmons. And there are more to come; well, at least one more. The REIT also announced that it is launching a search for a ninth board member.

Inland declined to comment on the board appointment, noting that the company is in a quiet period as it prepares to release its third quarter results November 7. During Inland’s second quarter earnings conference call in August, Zalatoris expressed his views on what he believed was ahead for Inland, stating that he felt “more confident than ever that we are well positioned to continue to drive growth and create value going forward.”

As of mid-year, Inland’s portfolio of owned interests included 154 investment properties accounting for a total of approximately 15 million square feet of leasable retail space at open-air neighborhood, community, power and lifestyle retail centers, as well as single-tenant properties across the Midwest.